intraday trading setups using trendlines and RSI only

[syk1kz]

This thread will be similiar to the other thread i have started here @ http://indo-investasi.com/showthread.php/8174-Naked-charts-with-trendlines-only

 

but posts will not be based on higher time frames. we will be looking at m15 charts and possibly hourly charts only here.

 

WE DO NOT ADD TO LOOSING POSITIONS AT ANY STAGE.

 

 

Money management is a maximum of 10% exposure at any given time and a minimum 1:2 risk:reward per trade, if this is not possible no trade is entered. Account is $1k in size and lotsize will be limited to 0.02 at maximum per trade

 

I will be avoiding what is to be considered high impact news and will be flat 30minutes before said news. Medium or low impact will be ignored. For a good economic calendar please use http://www.dailyfx.com/calendar/ rather than http://www.forexfactory.com/calendar/ the reason for this is FF often displays news as Tentative while DFX shows the actual time, i also feel FF displays some news as high impact when DFX displays it as low or medium at best. In my experience DFX is more accurate in defining the impact the news will have on the markets.

 

All pairs that i consider tradable due to trends / volatilty and spreads will be covered, which will be a maximum of 15 pairs at any given time, so plenty of potential.

 

Please be aware that if you decide to follow any of these setups at any stage with real money you accept responsibility for any and all trades placed on your account. Dont come crying if you loose money simply because the markets did what they wanted or you over leveraged your trade(s)

 

No i have not started a demo for this, is i recieve some requests i will do so but until then the only demo will be on the formentioned thread.

 

With that being said on with the show

 

 

http://www.myfxbook.com/members/syk1kz/alpari-uk-noexpire/45200

Edited August 17, 2010 by syk1kz

[syk1kz]

first pic here shows audusd positive divergence appearing on what is widely considered the intraday timeframe to use, M15

 

an upswing is being hinted at here

 

http://a.imageshack.us/img153/3941/audusdm15081210.gif

 

here usdcad setting up a similiar scenario

 

http://a.imageshack.us/img840/4153/usdcadm15081210.gif

Edited August 12, 2010 by syk1kz

[wakjoe]

nice.. i like rsi so much.

plz keep it coming sir

tq :)

[syk1kz]

so audusd did indeed move up as per the picture posted

 

http://a.imageshack.us/img266/710/audusdm1581210.gif

[syk1kz]

after the usd news i am looking to get short above 0.9000, probably wont marterialize though

 

pending aud 0.9000 sl 0.90500 TP 0.89000 1:2 RR, expires 2 hours from now or 00:30 GMT +10

 

http://a.imageshack.us/img266/3941/audusdm15081210.gif

[syk1kz]

i have taken an exploratory short on audjpy

 

http://a.imageshack.us/img816/1893/audjpym1581310.jpg

[syk1kz]

heres a demo i have been playing around on which is tracking these intraday setups

http://pipstealer.mt4stats.com

 

please note this is not a fresh demo but it is all trendline intraday trading.

 

euraud trade is from the other thread, i really should of posted it here but it doesnt matter now

 

silly me forgot to do TP for euraud, it hit TP and now reversed some what, sti

 

ll up 30pips, will let it ride out now rather than closing it.

 

EURAUD TP hit for a 1:2 RR, please check above mt4stats link for verification - it appears i mistyped TP, anyway it was still better than 1:1 by alot

 

audjpy only trade open now

Edited August 12, 2010 by syk1kz

[syk1kz]

watching audusd, this will prob make or break my audjpy since they are following a near identical pattern as of late

 

http://a.imageshack.us/img816/8803/audusdh1081310.gif

 

m15 might be ok to enter off if it doesnt close above, i dont know you make up your own mind, i will short if this m15 holds the trendline, and has a descent reversal, if it sits just under it i think it will continue to the next marked line, or somewhere around there in which case i will get short above 0.9000

 

http://a.imageshack.us/img816/5600/audusdm15081310.gif

 

 

entered short at market, see above link for details

Edited August 12, 2010 by syk1kz

[syk1kz]

audusd has slowly entered into the positive, audjpy hasent budged

 

ok so audjpy hourly shows support turned resistance, but will it hold?

 

http://a.imageshack.us/img267/5452/audjpyh1081310x.gif

 

http://a.imageshack.us/img267/8838/audjpyh1081310u.gif

Edited August 12, 2010 by syk1kz

[syk1kz]

now we have hit the asian session things will go quiet, although yesterday i raked in over 200pips during the asian over 5 pairs :)

 

maybe today will offer a similiar opportunity, anybody interested in asian setups?

[syk1kz]

still in both audusd and audjpy shorts, heres what im looking at on audjpy

 

http://a.imageshack.us/img820/373/audjpym15081310x.gif

 

where did my pic go :( stupid imageshack

 

ill hunt it down and reup it later to keep everything consistent

Edited August 13, 2010 by syk1kz
where did my pic go :(

[syk1kz]

will be looking to take advantage of positive nzdusd news to get short, 30mins to go until said news is released

 

www.dailyfx.com/calendar/

[syk1kz]

is audjpy heading for stoploss? probably

http://a.imageshack.us/img844/9259/audjpyh181310.jpg

Edited August 12, 2010 by syk1kz

[syk1kz]

nzd news hits trendline, will it break? looking to short

 

http://a.imageshack.us/img844/1527/nzdusdh181310.gif

 

 

 

going short nzdusd @ market, stoploss/tp to come

SL: 0.71670

TP: 0.70450 - below support i know but lets try anyway

Edited August 12, 2010 by syk1kz

[syk1kz]

audjpy has hit stoploss -50 or 60 pips

 

see first post for link to stats

[syk1kz]

so nzdusd hasent really moved since spiking up just above the trendline, i am still short as per the prices above, and the link in post #1

i just noted positive divergence on the hourly chart, wonder whats going on here then

http://a.imageshack.us/img261/1527/nzdusdh181310.gif

[syk1kz]

short audusd audjpy eurusd nzdusd @ market

 

http://pipstealer.mt4stats.com

 

looking to get out with small profits, 20pips or so, TP/SL are wide for broker purposes, i never use real Sl/TP on intraday trades, i manually close out when i hit 20 odd pips.

 

will post charts soon

 

breakeven on eurusd

Edited August 13, 2010 by syk1kz

[syk1kz]

take 15pips on audusd / nzdusd = 30pips

take 20pips audjpy = 50pips total

 

see above link for stats

 

see u for mondays intraday trades

 

see other thread sunday for weekly chart setups

[syk1kz]

entering another short audusd, see pic, note the rally which couldnt really perform, remember this is intraday trading and M15 is widely considered the intraday chart, if you don't believe me i suggest you use your favourite search engine and search intraday trading time frame :)

 

http://a.imageshack.us/img821/2978/audusdm1581410v.jpg

 

same deal as before, looking for 15-20pips and bail out

 

stoploss will be 89800 making it a 1:1 riskreward in this case, i know i broke my own rule :|

 

tp 89420 = 20/20 or 1:1, from my entry atleast

 

http://pipstealer.mt4stats.com

Edited August 13, 2010 by syk1kz

[syk1kz]

looks like audusd not so sure about breaking through 89500 level

 

moving stop to BE since it peaked at 13 pips or so

Edited August 13, 2010 by syk1kz

[syk1kz]

well im out, this trades currently +8 pips so it either costs nothing and wasent a loss, or we take home 20pips

 

speak later

[syk1kz]

audusd still floating odly enough, only just though, 5 pips or so now but i will let it go through to the wicket keeper or to take profit, im not worried, i was only interested in making back some of those lost pips from the previous losses.

 

this trade had bascially zero drawdown and went through to 13pips or so within only a few mins, but the entry could of been better, i was late and kind of forced it a little bit.

 

live and learn

[syk1kz]

http://a.imageshack.us/img821/9928/audusdm1581310.gif

 

 

H1 chart without the top line drawn on the m15, the bottom line is the same on both charts, i would expect a bounce up at some stage, probably to the top line drawn on the hourly, i expect the m15 top trendline to get ignored pretty much, it was only drawn because of a few long wicks

 

http://a.imageshack.us/img821/8100/audusdh181310.gif

Edited August 13, 2010 by syk1kz

[syk1kz]

my bad thats a 4hourly, makes for an even stronger case though

[syk1kz]

and just as i say that the price hits the floor, and is atleast thinking about breaking through really hard